• Walmart yesterday announced a partnership with the independent advertising platform Innovid "to power more personalized ad creative for Walmart DSP, the demand-side platform" for Walmart Connect, its omnichannel retail media business.
The announcement says that "in addition to creative personalization, optimization and interactive experiences for placements like connected TV (CTV), Innovid will also offer ad delivery services to ensure the highest-quality video experience for the end consumer."
Some context from the announcement:
"US digital retail media ad spending is projected to increase by 25.8% and reach $51.36 billion this year, according to eMarketer. By 2024, it will make up almost 20% of total digital ad spending as advertisers look to combat addressability depreciation by investing in media environments powered by first-party data. The partnership between Innovid and Walmart DSP empowers brands with data-driven precision and powerful ad management, allowing them to reach and engage their target audience and measure performance, ultimately closing the gap between spending and sales."